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EXCEL - IDEA: XBRL DOCUMENT - City Media, Inc.Financial_Report.xls
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EX-31 - CITY MEDIA, INC. - 10K 9-30-12 - EXHIBIT 31 - City Media, Inc.citymedia10k93012ex31.htm
EX-32 - CITY MEDIA, INC. - 10K 9-30-12 - EXHIBIT 32 - City Media, Inc.citymedia10k93012ex32.htm
10-K - CITY MEDIA, INC. - 10K 9-30-12 - City Media, Inc.citymedia10k93012.htm
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v2.4.0.6
Related Party Transactions / Service Agreement
12 Months Ended
Sep. 30, 2012
Related Party Transactions [Abstract]  
Related Party Transactions / Service Agreement

NOTE 4 – RELATED PARTY TRANSACTIONS / SERVICE AGREEMENT

 

The Company has a Service Agreement with Wasatch ATM (“Wasatch”), a Utah limited liability corporation owned and managed by a Company stockholder. The agreement provides for Wasatch to provide all maintenance, repair and service work along with distribution of vault cash. Wasatch is compensated at a set rate of $1,400 per month. The agreement is for thirty-six months and provides for an additional one-time $500 payable upon the placement of each additional ATM and an allowance of $500 per quarter for expenses.

 

As of September 30, 2012 and 2011, $1,400 and $1,735, respectively, was due to Wasatch, which is included in the “Related Party Accounts Payable” line item.